Stand Up India Scheme: Empowering Women and SC/ST Communities for Entrepreneurship
Stand Up India scheme, launched by the Government of India in 2016, aims to promote entrepreneurship among women and SC/ST communities by providing financial support for new projects. The scheme offers loans ranging from 10 lakh to 1 crore without the need for security, focusing on greenfield projects in various sectors. With features like interest rate subsidies, Rupay card facilities, and tax holidays, Stand Up India plays a crucial role in empowering marginalized entrepreneurs and fostering economic growth.
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Presentation Transcript
Vivekanand College,Kolhapur (Empowered Autonomous) Name of the Subject: Fundamentals of Entrepreneurship Semester III Name of the Topic: Stand Up India Scheme Name of the Teacher: Mr. Satish Nishikant Chavan
Stand Up India This scheme was launched by GoI on 5thApril,2016. This scheme was mostly Initiated to support entrepreneurship amongst women and SC & ST communities. It provides financial support to above said category of population. Major difference between this scheme and Startup India is that the in the earlier is meant for women, people from SC & ST category while Start up is meant for anyone.
Features:- 1. Lone of amount 10 L to 1 Cr is provided under this scheme. 2. Banks have to ensure that a dalit person / tribal / women will be given loan. 3. Loans should be provided against no security. But government takes the responsibility of these loans. 4. Loans are provided to new projects, known as Greenfield projects. List of Green field projects is declared by the government. Manufacturing Fish processing, Zari work/Cotton weaving, LPG/CNG bottling or filling. Services Tutoring services, Book Keeping and Auditing, Repairs etc. Trade Different retailing activities. Loans are also given to the businesses which are new and have not completed 5 years.
5. Bank charges interest rate inclusive of Basic lending rate and 3 basic points. 6. Loans provide for maximum 7 years.(Excluding moratorium period of 18 mths) 7. Loans are not given to persons having bad CIBIL (Credit Information Bureau(India) Limited). CIBIL is an organization which collects and stores information of credit done by different borrowers. 8. Loan is disbursed in the manner of CC or Term Loan. 9. For getting loan Margin requirement of 25% of loan amount is to be deposited in bank. However if the borrower does not have the same he is allowed to deposit 10% and 15 % is deposited by the government. 10. Banks also finance working capital requirements. 11. Rupay card is provided for making withdrawals. 12. Automated licensing and loan sanctioning system is available which facilitates easy access to loan. 13. Online portal is developed for registration process.
14. Application for loan can be made to any branch of bank. Or contact through SIDBI S portal (www.standupmitra.in). Or may contact a lead district manager. 15. All necessary documents are required to be submitted. 16. Tax holiday for 3 years is given.
Importance of Standup 1. Boon for SC & St Entrepreneurs. 2. Helpful for women Empowerment. 3. Income tax Exemptions. 4. Helpful to reduce Unemployment. 5. Tailor made list of greenfield projects. 6. Financial help for margin money. 7. Simple process. 8. Speedy loan sanction scheme. 9. Withdrawal of loan through ATM. 10.Connect center near home
